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Can you help me answer this? Osborn Manufacturing uses a predetermined overhead rate of $20.00 per direct labor-hour. This predetermined rate was based on a

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Osborn Manufacturing uses a predetermined overhead rate of $20.00 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $276,000 of total manufacturing overhead for an estimated activity level of 13,800 direct labor-hours. The company actually incurred $275,000 of manufacturing overhead and 13,300 direct labor-hours during the period Required 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the ournal entry to dispose of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much? 1. Manufacturing overhead by 2. The gross margin would by Required 1Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials Mason Company Schedule of Cost of Goods Manufactured Direct materials Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured

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